Century Aluminum Company $CENX Shares Acquired by Steamboat Capital Partners LLC

Key Points

• Steamboat Capital Partners LLC increased its stake in Century Aluminum Company by 306.1% during the 1st quarter, acquiring an additional 146,962 shares, bringing its total to 194,978 shares valued at approximately $3.6 million.
• Century Aluminum reported a quarterly revenue of $628.1 million, exceeding analysts' expectations, but missed earnings per share estimates with a report of ($0.05) EPS.
• Wall Street analysts have varied opinions on Century Aluminum, with ratings ranging from a "Strong Buy" to a "Hold," and a consensus price target set at $24.67.

Steamboat Capital Partners LLC grew its holdings in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) by 306.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 194,978 shares of the industrial products company's stock after purchasing an additional 146,962 shares during the period. Steamboat Capital Partners LLC owned approximately 0.21% of Century Aluminum worth $3,619,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Century Aluminum by 261.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,020 shares of the industrial products company's stock valued at $75,000 after purchasing an additional 2,909 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Century Aluminum by 13.1% in the 1st quarter. GAMMA Investing LLC now owns 5,418 shares of the industrial products company's stock valued at $101,000 after acquiring an additional 628 shares during the period. AlphaQuest LLC increased its position in shares of Century Aluminum by 177.6% in the 1st quarter. AlphaQuest LLC now owns 6,970 shares of the industrial products company's stock valued at $129,000 after acquiring an additional 4,459 shares during the period. Corton Capital Inc. acquired a new position in shares of Century Aluminum in the 4th quarter valued at $189,000. Finally, Vise Technologies Inc. acquired a new position in shares of Century Aluminum in the 4th quarter valued at $225,000. Hedge funds and other institutional investors own 61.59% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Zacks Research raised Century Aluminum from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. Wall Street Zen downgraded Century Aluminum from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. B. Riley increased their price target on Century Aluminum from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Century Aluminum in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, Century Aluminum presently has a consensus rating of "Buy" and a consensus target price of $24.67.

Century Aluminum Trading Down 0.6%

Shares of NASDAQ CENX traded down $0.13 during midday trading on Thursday, reaching $22.03. 921,437 shares of the stock were exchanged, compared to its average volume of 1,653,526. The company has a 50 day simple moving average of $21.20 and a 200 day simple moving average of $18.84. The stock has a market capitalization of $2.06 billion, a P/E ratio of 18.99 and a beta of 2.55. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 1.75. Century Aluminum Company has a twelve month low of $11.63 and a twelve month high of $25.39.

Century Aluminum (NASDAQ:CENX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.39). The firm had revenue of $628.10 million for the quarter, compared to analyst estimates of $606.10 million. Century Aluminum had a return on equity of 18.02% and a net margin of 4.94%. As a group, equities analysts expect that Century Aluminum Company will post 2.76 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Matt Aboud sold 12,027 shares of Century Aluminum stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $23.27, for a total value of $279,868.29. Following the completion of the sale, the senior vice president owned 62,589 shares in the company, valued at approximately $1,456,446.03. This trade represents a 16.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.76% of the company's stock.

Century Aluminum Company Profile

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.